Each of these benefits can be purchased as riders to CustomLife II certificates.
Accelerated Benefits If Accelerated Benefits are included as part of your life insurance certificate and you are diagnosed with a terminal illness, you can receive 75 percent of your death benefit, minus any outstanding loans, prior to death. Your beneficiary will receive the remainder of the death benefit upon death. Automatically included on select Modern Woodmen life insurance certificates, you will not be charged for this benefit.
Accidental Death Benefit If the Accidental Death Benefit is part of your insurance certificate and you die as the result of an accident, your beneficiaries will receive an amount of money in addition to the basic death benefit. Often, this benefit is set to pay double your death benefit.
Guaranteed Insurability Benefit / Option
With this rider as a part of your life insurance certificate, you can increase the specified amount of your insurance at specified later dates without providing any evidence that you’re in good health.
Payor Waiver of Monthly Deductions If the applicant of your insurance certificate (the person who pays your premiums) dies or becomes totally disabled and your certificate includes the Payor Waiver of Monthly Deductions, Modern Woodmen will pay your monthly deductions until you reach the age of 25.
Waiver of Monthly Deductions If you become totally disabled while the Waiver of Monthly Deductions benefit is part of your life insurance certificate, Modern Woodmen will pay your monthly deductions